Number of newspapers demanded daily

Assignment Help Basic Statistics

Reference no: EM13982859

The number of newspapers demanded daily in a large metropolitan area is believed to be an approximately normally distributed random variable. If more newspapers are demanded than are printed, the paper suffers an opportunity loss, in that it could have sold more papers, and a loss of public goodwill. On the other hand, if more papers are printed than will be demanded, the unsold papers are returned to the newspaper office at a loss. Suppose that management believes that guarding against the ?rst type of error, unmet demand, is most important and would like to set the number of papers printed at a level such that 75% of the time, demand for newspapers will be lower than that point. How many papers should be printed daily if the average demand is 34,750 papers and the standard deviation of demand is 3,560?

Reference no: EM13982859

Questions Cloud

The voltage across a coil whendi/dt= 20 ma/s andl= 8h : The voltage across a coil whendi/dt= 20 mA/s andL= 8H is ?

Problem regarding the mean and the standard deviation : a. Find the distribution of the project duration. Report the mean and the standard deviation. b. If the project duration exceeds 250 days, a penalty will be assessed. What is the probability that the project will be completed within 250 days?

Test for symmetry and then graph each polar equation : Test for symmetry and then graph each polar equation

What is the final energy stored in the capacitor : A 100uF capacitor is initially chargcd to 10V. The capacitor is disconnected from the source that charged it, and then a 1000 Ohm resistor is connected across the capacitor, What is the total initial energy stored in this system,

Number of newspapers demanded daily : The number of newspapers demanded daily in a large metropolitan area is believed to be an approximately normally distributed random variable. If more newspapers are demanded than are printed, the paper suffers an opportunity loss, in that it could..

A small increase in autonomous expenditures : According to Keynesians, a small increase in autonomous expenditures most likely causes a large increase in aggregate equilibrium income and output in the economy

Normal distribution assumption : It is believed that the number of kilometers driven by a tourist in the program is normally distributed with mean 4,500 and standard deviation 1,800. If a country wants to set the mileage limit at a point such that 80% of the tourists in the progr..

Find the rectangular coordinates of the point : Find the rectangular coordinates of the point Q(-5, -35°) and Write the rectangular equation x2 + y2 = 9 in polar form

Laxland and workland are two identical countries : Laxland and Workland are two identical countries except that people in Workland work twice as hard of those in Laxland. Under all the usual HO assumptions what would be your prediction of the patterns of trade between these two countries?

User Account

All Pages